Beam Therapeutics Inc. Common Stock (BEAM) — Stock Correlations & Overview
Over the past year, BEAM has moved most closely with CRSP, ARKG, WDNA. Explore the stocks most correlated and inversely correlated with BEAM below, along with its price, financials, and company profile.
Stocks correlated with BEAM
Correlation of daily returns. Higher positive values move with BEAM; negative values move opposite it. Informational only, not investment advice.
Most correlated with BEAM
| Symbol | Company | Correlation |
|---|---|---|
| CRSP | CRISPR Therapeutics AGBIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) | 0.77 |
| ARKG | ARK Genomic Revolution ETF | 0.70 |
| WDNA | WisdomTree BioRevolution Fund | 0.68 |
| EDIT | Editas Medicine, Inc. Common StockBIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) | 0.66 |
| PRME | Prime Medicine, Inc. Common StockBIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) | 0.66 |
Most inversely correlated with BEAM
| Symbol | Company | Correlation |
|---|---|---|
| LABD | Direxion Daily S&P Biotech Bear 3X ETF | -0.64 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.59 |
| BIS | ProShares UltraShort NASDAQ Biotechnology | -0.58 |
| SRTY | ProShares UltraPro Short Russell2000 | -0.49 |
| TWM | ProShares UltraShort Russell2000 | -0.48 |
Frequently asked questions about BEAM correlations
- Which stocks are most correlated with BEAM?
- Based on one year of daily returns, the stocks most correlated with Beam Therapeutics Inc. Common Stock (BEAM) are CRSP (0.77), ARKG (0.70) and WDNA (0.68). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with BEAM?
- Over the past year, the stocks most inversely correlated with Beam Therapeutics Inc. Common Stock (BEAM) are LABD (-0.64), SARK (-0.59) and BIS (-0.58). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these BEAM correlations calculated?
- We compute the correlation of daily returns between BEAM and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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